Re: PenFed closing accounts now !!

PenFed is most definitely is EQ puller. The drop to 630 took him below the threshhold PenFed considers for new accounts. That, plus a baddie and a (likely) UTL increase might be enough to do it. A lighter touch though, like contacting the member and asking what is going on might have been a lot nicer though, particularly from a CU that is well regarded for their excellent customer service.

Were something like the initial problem to occur to me I would be left on the horns of a dilemma: do i contact the issuer and let them know I am in the process of working out a problem on my credit report and risk bringing it to their attention or do I sit and wait for a resolution, hoping it will be prompt and nothing like this will happen?

Re: PenFed closing accounts now !!

I had to call PenFed today for various reasons and decided to ask the CSR about the recent CC account closures.

She informed me that they closed approximately 4300 cards in the month of March.

I then asked how many they normally close and she said as far as she knew it was just a dozen or less.

It seems that they are definately doing this.

On a side note, my brother faxed in his letter and is still waiting for an answer. He called today and the CSR said that lending recieved it, they might pull his credit again, and the answer could come as soon as Monday.

I'll post the results when I know.

Jax

*************************************************************************************Then you are a fool. Be thankful that when God gave you a face, he gave you a fool's face

Re: PenFed closing accounts now !!

I had to call PenFed today for various reasons and decided to ask the CSR about the recent CC account closures.

She informed me that they closed approximately 4300 cards in the month of March.

I then asked how many they normally close and she said as far as she knew it was just a dozen or less.

It seems that they are definately doing this.

On a side note, my brother faxed in his letter and is still waiting for an answer. He called today and the CSR said that lending recieved it, they might pull his credit again, and the answer could come as soon as Monday.

I'll post the results when I know.

Jaxstraw -

Wow! And to think this card was the only one left on my "must have" list! I had it earmarked for 2010. Needed time for inqs and new 2008 accounts to age (pyramiding). I thank you for this information as they are now officially crossed off my list. I'll just get another Citi or CU card.

Re: PenFed closing accounts now !!

PenFed is most definitely is EQ puller. The drop to 630 took him below the threshhold PenFed considers for new accounts. That, plus a baddie and a (likely) UTL increase might be enough to do it. A lighter touch though, like contacting the member and asking what is going on might have been a lot nicer though, particularly from a CU that is well regarded for their excellent customer service.

Message Edited by creditwherecreditisdue on 04-19-2009 07:29 PM

PENFED is NOT known for good customer service. they are known for good Credit Line terms and high CLs customer service though....not so much.

Signature line begins:Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,

Re: PenFed closing accounts now !!

PenFed is most definitely is EQ puller. The drop to 630 took him below the threshhold PenFed considers for new accounts. That, plus a baddie and a (likely) UTL increase might be enough to do it. A lighter touch though, like contacting the member and asking what is going on might have been a lot nicer though, particularly from a CU that is well regarded for their excellent customer service.

Message Edited by creditwherecreditisdue on 04-19-2009 07:29 PM

PENFED is NOT known for good customer service. they are known for good Credit Line terms and high CLs customer service though....not so much.

not sure where you got that idea from, every other post about them highlights their 'excellent' cs. so yes whether or not it is deserved pen fed is absolutely known for having top notch cs. great website...not so much.

Re: PenFed closing accounts now !!

PenFed is most definitely is EQ puller. The drop to 630 took him below the threshhold PenFed considers for new accounts. That, plus a baddie and a (likely) UTL increase might be enough to do it. A lighter touch though, like contacting the member and asking what is going on might have been a lot nicer though, particularly from a CU that is well regarded for their excellent customer service.

Message Edited by creditwherecreditisdue on 04-19-2009 07:29 PM

PENFED is NOT known for good customer service. they are known for good Credit Line terms and high CLs customer service though....not so much.

I definitely agree with you on this one. Their service is very slow. I opened an account about two months ago and no debit card yet. I opened an Alliant account about a week after Penfed and have received everything I needed from them, i.e. checks, debit cards...I called Penfed two weeks ago to close out my account and had to call again yesterday to see if it was closed and CSR said there was no indication of that. Hopefully it's closed now. Alliant has the best customer service so far.

Re: PenFed closing accounts now !!

There is absolutely nothing wrong with PenFed's customer service. In fact I think it is tops.

PenFed is a little finicky about some things and debit cards seems to be one of them. They have some very strange terms when it comes to their checking account and funds transfers. Fortunately they all evaporate in time.

More to the point: Did you ask for a debit card? I would call and ask them what's going on - it could be that Mr. Postman just decided to lose it in the machinery for a decade or two.

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